Project at a glance
KPMG used an innovative combination of cloud-based GRC technologies, third-party workflows, artificial intelligence (AI) and machine learning, virtual assistants, and analytics capabilities to help this client improve business performance, drive higher consumer trust, and cut costs significantly.
- Client challenge
- Key KPMG initiatives
- Business impact
- Why KPMG?
This global media and technology company focuses on broadband, aggregation, and streaming across the United States and Europe. Operating with six separate legacy systems and processes managed by scores of outside contractors, the company found it difficult to hold its business units accountable for governance, risk and compliance (GRC), third-party security risk management, and privacy operations. Heavy reliance on contractors also led to uneven quality and substantial costs. In addition, disparate systems created functional misalignments and inefficiencies because different reports had to be generated by different systems in response to regulatory requests.
Key KPMG initiatives
We approached the client’s issues with innovative thinking and new capabilities, acting on the thesis that trusted risk management processes, enabled by fit-for-purpose technologies, can improve business performance. KPMG:
- consolidated data from legacy data sources into a single cloud-based ServiceNow platform so that what happens in one function can be easily leveraged by all the others
- built machine learning models and virtual assistants to run workflow processes and reduce operating expenses
- leveraged Tableau’s capabilities in conjunction with data in ServiceNow to enhance executive reporting so that workflow stagnation could be identified and remediated
- streamlined compliance with state and federal privacy protection regulations and cybersecurity standards, creating transparency for consumers
- employed leading change management practices to improve the experience of employees working with the new cloud-based GRC platform.
Automated intelligent workflows allow the client to measure risks and manage functional performance in real time. During the two years KPMG has worked with this client, the company has been able to:
- conduct 40 percent more assessments every year for the same cost when measuring third-party compliance with the company’s cybersecurity practices
- reduce the number of outside contractors running the program by 50 percent, further improving the company’s security posture and reducing risk
- rely on AI and machine learning to handle increased volumes, freeing an entire layer of quality assurance employees to focus on higher-value activities
- make reporting faster, more accurate, and more actionable by consolidating data across the organization and delivering reports directly to business leaders, GRC leadership, and chief information security officers
- improve trust among consumers by making privacy protections and sign-up processes more transparent.
During a very competitive bid process, we demonstrated a proof of concept showing that we could help optimize processes and reduce year-over-year costs. After winning the bid, we did just that—combining virtual assistants and AI to deliver better outcomes with a smaller team of multi-faceted professionals.
A “one team” approach
KPMG is built to quickly and flexibly deliver service teams and advance to support them. From day one, our team collaborates with clients from a “we’re in this together” perspective. We see ourselves as one team, immersing in their culture, objectives, processes, and critical success factors, anchoring ourselves to their business outcomes.
Leveraging AI to “precision engineer” cost savings
The pattern-recognition features of AI can help companies identify process bottlenecks and pinpoint savings opportunities, lighting up the exact “where,” “why,” and “how” of cost inefficiencies for remediation.